Current Yield

Fed Grinds the Gears Again

The Federal Reserve made yet another incrementally more hawkish communication about winding down its monetary stimulus, and yet again the bond market didn't like what it heard.

Of the roughly 600 words in the main body of last week's Fed policy-committee statement, only about 20 were changed from the previous statement in May. The main tweak altered "the Committee continues to see downside risks to the economic outlook" to...